A Squire Patton Boggs team of lawyers from across 10 offices has advised Synthomer plc, a leading specialty chemicals company, on the US$226 million acquisition of Hexion Performance Adhesives & Coatings (Hexion PAC), a business of Hexion Inc., a global chemicals company based in Columbus, Ohio. The transaction has now completed following regulatory approval and satisfaction of other closing conditions.
Hexion PAC develops, manufactures and markets a wide array of dispersions, additives, powder coatings and speciality monomers, supplying a global customer base across a broad range of end-use including coatings, adhesives and for building and construction applications. The business employs approximately 750 employees and operates seven sites across Europe, the US and Asia.
The acquisition of Hexion PAC significantly strengthens Synthomer's position in the performance adhesives and coatings market, offering access to new product technologies, customers and markets, as well as complementing Synthomer's existing business both geographically and in the markets in which it operates.
The Squire Patton Boggs team, led by partners James McKay and Tim Stead in London, Carolyn Buller in Cleveland and Volker Heidbüchel in Berlin, involved corporate, competition and anti-trust, environmental, safety and health, intellectual property, tax and employment lawyers from London, Cleveland, Berlin, Birmingham, Brussels, Madrid, Manchester, Paris, Prague and San Francisco.